Hugo Boss Results and Outlook as Expected, Inventory Remains a Concern; Shares Fairly Valued
We are increasing our fair value estimate for narrow-moat Hugo Boss’ shares to EUR 65 from EUR 62 previously largely as a result of the time value of money. The company reported annual sales and profit broadly in line with our expectations and pre-announcement in January. We believe shares are fairly valued.The company issued outlook for 2019 of mid-single digit revenue growth at constant currencies (versus 4.5% in our forecasts), EBIT growth at a high-single-digit percentage rate (versus 11% w...
HUGO BOSS Group is engaged in the global apparel market. The Group, which is based in Metzingen Germany employs almost 12,500 people, generated annual sales of EUR 2.4 billion in fiscal year 2013 and is an apparel manufacturer. The Group focuses on developing and marketing high-end women's and men's fashion and accessories. With its brand including the BOSS core brand, the lines BOSS Orange, BOSS Green and the progressive brand HUGO, Co. targets different, consumer groups. The brands consists of modern business wear, evening wear and sportswear, shoes and leather accessories as well as licensed fragrances, eyewear, watches, children's fashion, home textiles and mobile accessories.
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